Lypsa Gems & Jewellery Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.33 Indian rupees per share, a gain of 37.3% from 97 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 39.3 million rupees, a gain of 37.2% from 28.6 million rupees in the prior-year period.

The normalized profit margin climbed to 2.7% from 1.9% in the year-earlier period.

Total revenue fell on an annual basis to 1.44 billion rupees from 1.47 billion rupees, and total operating expenses fell from the prior-year period to 1.37 billion rupees from 1.42 billion rupees.

Reported net income increased 44.9% on an annual basis to 60.7 million rupees, or 2.06 rupees per share, from 41.9 million rupees, or 1.42 rupees per share.

As of Nov. 9, US$1 was equivalent to 66.41 Indian rupees.